The N27.5 trillion 2024 budget proposal that Bola Tinubu submitted to the National Assembly on Wednesday has been criticised by the opposition Peoples Democratic Party (PDP), which claims it is a budget of deception with no plan for economic recovery.
The PDP said that the budget, which Tinubu called the “Budget of Renewed Hope,” is actually a budget of renewed misery and pessimism for Nigerians in a statement released by Debo Ologunagba, its national publicity secretary.
The PDP charged Tinubu with inflating the budget, copying things, and fabricating statistics to support a planned tax and interest rate rise that would harm the working class and the productive sector.
UPDATE: FEC Approves N27.5 Trillion As 2024 Budget
The party also criticised the budget framework, claiming that, given the nation’s massive debt load and planned borrowing, it is unaffordable and unrealistic. It allots N9.9 trillion for recurrent spending, N8.7 trillion for capital expenditures, and N8.25 trillion for debt servicing.
The PDP also voiced concern about the absence of specific, verifiable action plans to revitalise the major economic sectors—manufacturing, energy, agriculture, and education, among others—which it claimed constitute the backbones of any given economy.
The party also attacked Tinubu for acknowledging that his administration had set a Naira to US Dollar exchange rate of N750 per US Dollar for 2024, claiming this amounts to an open admission of the APC administration’s inability, incapacity, and lack of guidance to oversee and grow the economy and strengthen the national currency.
See How Much Dollar Exchange To Naira Today 9 December 2021
The PDP pleaded on the National Assembly to reject the appropriations bill and insist on a practical, pro-people budget that will solve the nation’s economic problems and raise Nigerians’ standard of life.
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